Dodd, Frank Pledge Collaborative Effort on Regulatory Modernization

This story appeared in Bank Digest .

Sen. Chris Dodd, D-Conn., Chairman of the Senate Committee on Banking, Housing and Urban Affairs, and Rep. Barney Frank, D-Mass., Chairman of the House Financial Services Committee, have pledged to work with each other and the Administration to modernize the country's financial regulatory system. In a letter  to President Obama, sent as he prepares to leave for the upcoming G-20 Summit Meeting in London, the chairmen said they would work “expeditiously, carefully and deliberately” to create a framework for 21st century regulation that will enhance financial stability and protect consumers and investors.